Tata Steel $1.6 bn writedown sparks fund-raising worries
Tuesday May 14, 2013
Shares in Tata Steel recovered from early losses on Tuesday, after the company booked a heavy impairment charge, amid concerns that the write-down could threaten the steelmaker's financing ability and trigger a rating downgrade.
ArcelorMittal reports $345 million net loss in March quarter
Friday May 10, 2013
Steel maker ArcelorMittal on Friday reported a net loss of $345 million for the companys first quarter that ended on March, 2013 but said its restructuring efforts have begun to yield results.
POSCO's Rs 65,000 crores Odisha project boosted by Supreme Court order
Reuters | Friday May 10, 2013
POSCO's planned Rs 65,000 crores project in India got a boost on Friday after the Supreme Court said the government will decide on giving the South Korean steelmaker's long-delayed plant preferential access to iron ore.
Government to decide on giving iron ore license to Posco: Supreme Court
Friday May 10, 2013
The government will decide if South Korean steelmaker POSCO can have preferential access to an iron ore mine for its planned $12 billion steel plant, a top court said, providing a boost to the troubled project billed as the country's largest foreign ...
Government to decide on giving iron ore license to POSCO: Supreme Court
Reuters | Friday May 10, 2013
The Supreme Court has set aside Orissa High Court order which had cancelled the state government's recommendation for mining lease in the state to be given to Posco India. The Odisha government wanted Posco to mine there. However this decision was ...
Luxembourg open to support ArcelorMittal on Indian investments
Tuesday April 23, 2013
Luxembourg is open to lend support to ArcelorMittal for taking forward its plans in India, its Ambassador Gaston Stronck said today.
Russian billionaire Alisher Usmanov replaces Lakshmi Mittal as Britain's richest man
Reuters | Monday April 22, 2013
Russian businessman Alisher Usmanov has knocked Lakshmi Mittal off the top of this year's Sunday Times Rich List with a jump in his fortune to 13.3 billion pounds after a tough year for the Indian steel magnate.
Lakshmi Mittal tumbles to 4th position on Sunday Times Rich List 2013
Monday April 22, 2013
Indian-origin steel tycoon Lakshmi Mittal, who spent eight years at the top of the Sunday Times Rich List, has dropped down to fourth position this year, while leading NRI industrialist Lord Swraj Paul has emerged as the wealthiest Peer in the House ...
Posco, Uttam Galva in talks to set up 3 million-tonne per annum steel plant
Monday April 15, 2013
South Korean steel major Posco has initiated talks with Uttam Galva Steels to set up a three million-tonne per annum facility in Maharashtra with an estimated Rs 16,000 crore investment, a source said.
India not my top priority for investment: Lakshmi Mittal
Sunday March 24, 2013
Speaking on the sidelines of a convocation of Indian Institute of Management, Ahmedabad, where he was the chief guest, Mr. Mittal said: "I do not want to give you any timeline about my Indian projects...experienced so much of delay."
India not my top priority for investment: Lakshmi Mittal
Press Trust of India | Saturday March 23, 2013
Unhappy over the delay in getting clearances for his projects, the world's largest steelmaker, Lakshmi Niwas Mittal, today said India was not his top priority for investment.
Hindujas emerge as the richest Asians in Britain
Saturday March 23, 2013
Leading NRI businessmen Srichand Hinduja and Gopi Hinduja, chairman and co-chairman of the Hinduja Group, have emerged as the richest Asians in Britain in 2013.
ArcelorMittal announces $3 billion savings target by 2015
Saturday March 16, 2013
World's largest steel maker ArcelorMittal today announced a plan to save $3 billion by 2015 through optimising its assets and other cost cutting measures.
Posco consortium to hike stake in ArcelorMittal-led joint venture to 15%
Saturday March 16, 2013
ArcelorMittal will sell 15 per cent stake in iron ore mining and infrastructure assets in Quebec, Canada, to a consortium led by POSCO and China Steel Corp for about USD 1.1 billion.
Lakshmi Mittal, Moni Varma settle case outside court hours before hearing
Tuesday March 5, 2013
Just hours before their case was to begin in the High Court, NRI steel tycoon Lakshmi N Mittal and India-born rice baron Moni Varma on Tuesday decided to settle their multi-million-pound dispute out of court.
